* Russian stock indexes make small gains after Cyprus avoids bank run
* Trading volumes low due to Easter break
* Rouble supported by end-of-month taxes
By Sonia Elks
MOSCOW, 29 Mar - Russian stocks edged up in Friday morning in trading
thinned by holidays in European and the United States, while the rouble tracked
oil prices higher.
At 0718 GMT, the rouble-denominated MICEX share index was up 0.15
percent at 1,436.3 points. The dollar-denominated RTS index was 0.1 up
at 1,456.2 points.
Analysts predicted a quiet day given markets in London, New York and Hong
Kong were among those closed for Good Friday.
Russian investors welcomed the re-opening of banks in Cyprus on Thursday,
which passed off without a feared run on deposits on the island, which is a
favoured tax haven for Russia.
'Prospects are improving on the world's stock markets,' said analyst Mark
Bradford at BCS brokerage group.
The rouble posted gains, taking support from oil prices with Brent at just
under $110 dollars per barrel, and local tax bills prompting exporters to buy up
The rouble was up two kopecks to 31.07 versus the dollar, and
gained 0.2 percent to 39.82 versus the euro. This left it 0.14
percent stronger against the euro-dollar basket at 39.82.
Dmitry Polevoy, economist at ING Bank, said market volatility was likely to
increase given the reduced volumes of Easter trade.
Russian Latest Net % % Change
Markets Change Change on year
MICEX 1436.29 2.11 0.15 2.43
RTS 1456.20 1.48 0.10 5.38
London ADRs 841.96 7.28 0.87 -4.70
Emrg Mkt 1034.09 1.47 0.14 -2.00
MSCI Russia 779.92 1.17 0.15 -3.42
Sberbank 98.67 0.08 0.08 6.17
VTB 0.05 -0.00 -0.14 -7.30
Gazprom 133.45 0.28 0.21 -7.13
LUKOIL 1998.00 1.10 0.06 -0.11
Rostelecom 122.29 -0.24 -0.20 1.57
Dollar/Roub 31.07 -0.02 -0.07 2.19
Euro/Rouble 39.82 -0.08 -0.20 -1.09
Rouble 35.01 -0.05 -0.14 0.48
DEBT Bid Ask %Rtn Coupon
Russia 6.89 6.86 -0.04 7.60
MONEY Bid Ask Close
Overnight 6.00 6.50 5.75
All data taken from Reuters at 0718 GMT
(Reporting by Sonia Elks, editing by Jason Bush, John Stonestreet)
Keywords: RUSSIA MARKETS/
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